"It's been a long 14 hours, or whatever it is," Vanek told reporters after participating in his first practice with his new teammates. "It's obviously a shock. I'm not surprised. I knew it was going to happen sooner or later with the situation in Buffalo. Obviously when it does happen, initially you're shocked.

"I'm excited to come here. They have a great, young team, up-tempo style. I'm looking forward to it."

As expected, Islanders coach Jack Capuano has placed Vanek on the top line with Tavares and right wing Kyle Okposo. It's certainly a tremendous opportunity for Vanek, who has 254 goals and 243 assists in 598 games.

John Vogl of The Buffalo News reports the Sabres were willing to make Vanek the highest-paid player in the league:

Thomas Vanek could have been paid handsomely to stay in Buffalo. A source, in fact, says the Sabres were willing to make him the highest-paid player in the NHL.

---End of update---

Sabres GM Darcy Regier commented on the transaction:

#Sabres GM Darcy Regier: "I'd like to start by thanking Thomas for the contributions he's made to our organization."

After going 39-32-11 during the 2010-2011 season, the Sabres slid to 21-21-6 last year and are now 2-10-1 to start this season. It's clear they are starting to slide, and they need to rebuild for the future.

For the Islanders, they're 4-4-3 to start the year, needing a strong player to push them over the hump. As Chris Botta from SportsBusinessDaily.com points out, this trade is certainly a win for the Islanders, considering Moulson will be a free agent after this season.

Easy win for #Isles and Garth Snow. A pending UFA (Moulson), a 15th-25th overall pick and a 2nd rounder for Vanek. No downside.

Vanek will be a good fit for the Islanders. The left winger already has four goals and five assists through 13 games, and he's put up some strong seasons over the years. He was on a tear during the strike-shortened season, grabbing 20 goals and 21 assists in just 38 games.

Bob McKenzie from TSN provided this quote from Vanek's agent.

Vanek's agent Stephen Bartlett said his client is "excited to be an Islander," but no contract extension is part of the trade.